Exhibit 33.1

Certification Regarding Compliance with Applicable Servicing Criteria



|1. | Chase Bank USA, National Association (the Asserting Party) is responsible for assessing compliance with the servicing criteria applicable to it under
paragraph (d) of Item 1122 of Regulation AB, as of and for the 12-month period ending December 31, 2011 (the Reporting Period), as set forth in Appendix A hereto. The transactions covered by this report include
asset-backed securities transactions involving credit card receivables, for which transactions the Asserting Party acted as servicer, that were registered with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as
amended, on or after January 1, 2006, where the related asset-backed securities were outstanding during the Reporting Period (the Platform), as listed in Appendix B hereto;
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|2. | Except as set forth in paragraph 3 below, the Asserting Party used the criteria set forth in paragraph (d) of Item 1122 of Regulation AB to assess the
compliance with the applicable servicing criteria;
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|3. | The criteria listed in the column titled Inapplicable Servicing Criteria on Appendix A hereto are inapplicable to the Asserting Party based on the
activities it performs with respect to the Platform;
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|4. | The Asserting Party has complied, in all material respects, with the applicable servicing criteria as of December 31, 2011 and for the Reporting Period with
respect to the Platform taken as a whole.
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|5. | PricewaterhouseCoopers LLP, a registered public accounting firm, has issued an attestation report on the Asserting Partys assessment of compliance with the
applicable servicing criteria for the Reporting Period.
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March 30, 2012



Chase Bank USA, National AssociationBy:

/s/ Keith SchuckName: Keith SchuckTitle:   President




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APPENDIX A



|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |                                 |  |  
|------------------ |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------------------------- |  | -
|SERVICING
CRITERIA |  | APPLICABLE
SERVICING CRITERIA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |  | INAPPLICABLE SERVICING
CRITERIA
|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 
|Reference          |  | Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  |                                 |  |  
|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 
|                   |  | General Servicing Considerations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  |                                 |  |  
|1122(d)(1)(i)      |  | Policies and procedures are instituted to monitor any performance or other
triggers and events of default in accordance with the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  | X                               |  |  
|1122(d)(1)(ii)     |  | If any material servicing activities are outsourced to third parties, policies and procedures are
instituted to monitor the third partys performance and compliance with such servicing activities.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |                                 |  | X
|1122(d)(1)(iii)    |  | Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are
maintained.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  |                                 |  | X
|1122(d)(1)(iv)     |  | A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing
function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                    |  | X                               |  |  
|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      | 
|                   |  | Cash Collection and Administration                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |                                 |  |  
|1122(d)(2)(i)      |  | Payments on pool assets are deposited into the appropriate custodial bank
accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                        |  | X                               |  |  
|1122(d)(2)(ii)     |  | Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized
personnel.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  | X                               |  |  
|1122(d)(2)(iii)    |  | Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or
other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |  |                                 |  | X
|1122(d)(2)(iv)     |  | The related accounts for the transaction, such as cash reserve accounts or accounts established as a form
of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                |  | X                               |  |  
|1122(d)(2)(v)      |  | Each custodial account is maintained at a federally insured depository institution as set forth in the
transaction agreements. For purposes of this criterion, federally insured depository institution with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the
Securities Exchange Act.                                                                                                                                                                                                                                                                                                                      |  | X                               |  |  
|1122(d)(2)(vi)     |  | Unissued checks are safeguarded so as to prevent unauthorized access.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                 |  | X
|1122(d)(2)(vii)    |  | Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts,
including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the
transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original
identification, or such other number of days specified in the transaction agreements. |  | X                               |  |  



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|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  |                                 |  |  
|------------------ |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------------------------- |  | -
|SERVICING CRITERIA |  | APPLICABLE
SERVICING CRITERIA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |  | INAPPLICABLE SERVICING
CRITERIA
|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 
|Reference          |  | Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                 |  |  
|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 
|                   |  | Investor Remittances and Reporting                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  |                                 |  |  
|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 
|1122(d)(3)(i)      |  | Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and
applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the
transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors or the trustees records as to the total unpaid principal balance and number of pool assets serviced by the
Servicer. |  | X                               |  |  
|1122(d)(3)(ii)     |  | Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and
other terms set forth in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  | X1                              |  |  
|1122(d)(3)(iii)    |  | Disbursements made to an investor are posted within two business days to the Servicers investor
records, or such other number of days specified in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  |                                 |  | X
|1122(d)(3)(iv)     |  | Amounts remitted to investors per the investor reports agree with cancelled
checks, or other form of payment, or custodial bank statements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  | X2                              |  |  
|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | 
|                   |  | Pool Asset Administration                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  |                                 |  |  
|1122(d)(4)(i)      |  | Collateral or security on pool assets is maintained as required by the transaction agreements or related pool
asset documents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |  |                                 |  | X
|1122(d)(4)(ii)     |  | Pool assets and related documents are safeguarded as required by the transaction agreements                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  |                                 |  | X
|1122(d)(4)(iii)    |  | Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with
any conditions or requirements in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  | X                               |  |  
|1122(d)(4)(iv)     |  | Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are
posted to the Servicers obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in
accordance with the related pool asset documents.                                                                                                                                                                                                                                            |  | X                               |  |  
|1122(d)(4)(v)      |  | The Servicers records regarding the accounts agree with the Servicers records with respect to an
obligors unpaid principal balance.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  | X                               |  |  
|1122(d)(4)(vi)     |  | Changes with respect to the terms or status of an obligors account
(e.g., loan modifications or re-aging) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents.                                                                                                                                                                                                                                                                                                                                                                                                      |  | X                               |  |  





|1 | The Asserting Party allocates amounts due to investors and remits such amounts to the Trustee in accordance with the timeframes, distribution priority
and other terms set forth in the transaction agreements.
|- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2 | The Asserting Party agrees amounts remitted to investors per the investors reports to amounts remitted to the Trust per the bank statements.
|- | ---------------------------------------------------------------------------------------------------------------------------------------------



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|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |  |                                 |  |  
|------------------ |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------------------------- |  | -
|SERVICING
CRITERIA |  | APPLICABLE
SERVICING CRITERIA                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  | INAPPLICABLE SERVICING
CRITERIA
|                   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | 
|Reference          |  | Criteria                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  |                                 |  |  
|1122(d)(4)(vii)    |  | Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of
foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements.                                                                                                                                                                                                                                                                                |  | X                               |  |  
|1122(d)(4)(viii)   |  | Records documenting collection efforts are maintained during the period an account is delinquent in
accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entitys activities in monitoring delinquent pool assets
including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment).                                                                          |  | X                               |  |  
|1122(d)(4)(ix)     |  | Adjustments to interest rates or rates of return for accounts with variable rates are computed based on
the related account documents.                                                                                                                                                                                                                                                                                                                                                                                                                                                |  | X                               |  |  
|1122(d)(4)(x)      |  | Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed,
in accordance with the obligors pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool
asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. |  |                                 |  | X
|1122(d)(4)(xi)     |  | Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the
related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the Servicer at least 30 calendar days prior to these dates, or such other number of days
specified in the transaction agreements.                                                                                                                                                                                       |  |                                 |  | X
|1122(d)(4)(xii)    |  | Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from
the Servicers funds and not charged to the obligor, unless the late payment was due to the obligors error or omission.                                                                                                                                                                                                                                                                                                                                                   |  |                                 |  | X
|1122(d)(4)(xiii)   |  | Disbursements made on behalf of an obligor are posted within two business days to the obligors
records maintained by the Servicer, or such other number of days specified in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                             |  |                                 |  | X
|1122(d)(4)(xiv)    |  | Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the
transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | X                               |  |  
|1122(d)(4)(xv)     |  | Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of
Regulation AB, is maintained as set forth in the transaction agreements.                                                                                                                                                                                                                                                                                                                                                                                                         |  |                                 |  | X



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Appendix B

Chase Issuance Trust

Class A (2003-4)

Class A (2003-8)

Class A (2004-3)

Class A (2004-5)

Class A
(2004-7)

Class A (2004-8)

Class A (2005-2)

Class A (2005-6)

Class A (2005-7)

Class A
(2005-11)

Class A (2006-1)

Class A (2006-2)

Class A (2006-4)

Class A (2006-5)

Class A
(2006-6)

Class A (2006-8)

Class A (2007-1)

Class A (2007-2)

Class A (2007-3)

Class A
(2007-5)

Class A (2007-7)

Class A (2007-8)

Class A (2007-9)

Class A (2007-10)

Class A
(2007-12)

Class A (2007-13)

Class A (2007-16)

Class A (2007-17)

Class A (2007-18)

Class A
(2008-2)

Class A (2008-3)

Class A (2008-4)

Class A (2008-6)

Class A (2008-8)

Class A
(2008-9)

Class A (2008-10)

Class A (2008-11)

Class A (2008-12)

Class A (2008-13)

Class A
(2008-14)

Class A (2009-2)

Class A (2009-3)

Class A (2011-1)



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Class A (2011-2)

Class A (2011-3)

Class B (2006-01)

Class B (2007-01)

Class C (2003-03)

Class C (2004-02)

Class C (2005-02)

Class C (2006-02)

Class C (2006-04)

Class C (2007-01)

Chase Credit Card Master Trust

Series 2003-4